Abstract

Thedeficit
Heilbroner, R. | January 27, 1992 issue

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The American economy is in serious trouble, because of the deficit. Infrastructure is to the private sector what a railroad embankment is to a railroad. The U.S. economy is limping, because the infrastructure is holding it back. Democrats would like to cut taxes on lower-income families. A deficit is the amount of money the government borrows during a year. That's all it means. In the year ending June 30, 1992, the government expects to borrow about $350 billion. That depends on what the borrowing is and raise them for rich families; Republicans would like to do the opposite, by lowering capital gains taxes and putting taxes on gasoline or whatever. Those remedies are not likely to turn around a $6 trillion economy dead in the water.

See Also:

UNITED States -- Economic conditions; INFRASTRUCTURE (Economics); INFORMAL sector (Economics); TAX planning; EXPENDITURES, Public; UNITED States
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